The relatively small bump in base salaries gives Brady something in return for giving up the fully-guaranteed nature of the $24 million he was due to earn. In return for $3 million in money guaranteed for injury only, he’s accepting the risk that the Patriots will decide between now and September 2017 that he isn’t worth the money he’s due to make.

Meanwhile, it’s important to remember that the deal currently gives the Patriots not a penny of cap space. Instead, it frees up $24 million that would have been placed in escrow to fund the remainder of Brady’s base salaries.

If, however, the Patriots decide to cut Brady after 2015, they’ll now save $19 million in cash and cap space. If they decide to move on after 2016, they’ll save $10 million in cash and cap space. It seems unlikely that they’ll chose to do that; Brady’s base salaries for the next three years are a bargain in comparison to contracts given to lesser players.